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Started By
Message
Mandatory AMEX from employer
Posted on 5/25/16 at 1:29 pm
Posted on 5/25/16 at 1:29 pm
Our company is forcing everyone to get a company AMEX. There are no benefits to us getting this card, we don't even get the points. All it does is impact our credit as an inquiry.
What's the point? What does the company get out of it? I'm guessing they get a kick back from AMEX?
What's the point? What does the company get out of it? I'm guessing they get a kick back from AMEX?
9
Posted on 5/25/16 at 1:36 pm to DownSouthDave
quote:
Our company is forcing everyone to get a company AMEX
quote:
All it does is impact our credit
No shite? Is that true? My Company AMEX, which has company name on top and mine on bottom, impacts my personal credit?
Both positively and negatively, right?
Posted on 5/25/16 at 1:44 pm to MSMHater
frick you. I came here asking a question, not looking for your bullshite. I don't need it and I don't want it.
Posted on 5/25/16 at 1:44 pm to MSMHater
Put in your 2 weeks notice, ha.
Pretty sure if they go bankrupt you can be held liable for any credit if your name is on the card.
ETA: My wife works for a small business of about 25 employees and her boss racks in the points from the credit cards. I don't know how it affects large businesses but I'm assuming there are perks for someone.
Pretty sure if they go bankrupt you can be held liable for any credit if your name is on the card.
ETA: My wife works for a small business of about 25 employees and her boss racks in the points from the credit cards. I don't know how it affects large businesses but I'm assuming there are perks for someone.
This post was edited on 5/25/16 at 1:46 pm
Posted on 5/25/16 at 1:49 pm to DownSouthDave
quote:
not looking for your bullshite
Settle down, Francis.
I was sincere. I really had no idea.
Posted on 5/25/16 at 1:50 pm to MSMHater
Everyone issued an Amex card for T&E at my company are personally liable for the charges. The company bears the liability of the Amex purchasing cards though.
Posted on 5/25/16 at 2:02 pm to MSMHater
Ha, my bad. I read it as the most sarcastic answer ever. I was like "who is this dick?".
Yes, if you had to fill out an application, you are likely responsible for the card. It reports as an inquiry on your report.
It's a card in my name, using my credit, that I'm responsible for and I get nothing in return. I'm not even allowed to purchase personal items on my credit card. I'm against it because I don't want another card, I don't need anymore cards and it's just another bill to pay.
Yes, if you had to fill out an application, you are likely responsible for the card. It reports as an inquiry on your report.
It's a card in my name, using my credit, that I'm responsible for and I get nothing in return. I'm not even allowed to purchase personal items on my credit card. I'm against it because I don't want another card, I don't need anymore cards and it's just another bill to pay.
Posted on 5/25/16 at 2:06 pm to baldona
quote:
My wife works for a small business of about 25 employees and her boss racks in the points from the credit cards
Smart of the boss to try and rack up points on his companies' money spent.
Hopefully my company never goes that direction.
Posted on 5/25/16 at 2:19 pm to DownSouthDave
quote:
Yes, if you had to fill out an application, you are likely responsible for the card. It reports as an inquiry on your report
Ok. There's the important clarification. I did NOT have to fill out an application. I guess I was just made an administrator and card holder on the larger corporate account.
quote:
Ha, my bad. I read it as the most sarcastic answer ever. I was like "who is this dick?"
I try and keep that confined to the OT and poliboard.
Posted on 5/25/16 at 2:33 pm to DownSouthDave
it sucks, but its pretty normal. I doesn't show up on my credit report though, at least I have never noticed it.
I actually sorta like it as you have to provide fewer receipts for the expense report process if you use it.
I actually sorta like it as you have to provide fewer receipts for the expense report process if you use it.
Posted on 5/25/16 at 2:34 pm to DownSouthDave
It probably helps Nancy over in accounting for all the credit card statements to be included on one statement so it's easier for her to reconcile every month.
The only time I had a company card, it didn't impact my credit and I never saw the bill. I was just an authorized user with my own card. Never realized there were circumstances where the employee was personally liable.
The only time I had a company card, it didn't impact my credit and I never saw the bill. I was just an authorized user with my own card. Never realized there were circumstances where the employee was personally liable.
Posted on 5/25/16 at 2:35 pm to DownSouthDave
quote:
we don't even get the points.
Why would you get points for something you aren't paying for. Easier for companies to track expenses through 1 credit card company rather than a bunch of expense reports.
Posted on 5/25/16 at 2:41 pm to DownSouthDave
I believe AMEX is doing more and more joint liability cards. You are only liable if the company doesn't pay the bill.
It's not meant to be a benefit to you. It's meant to help the business. If you want the business to pay for something, you play by their rules.
I guess they get out of it... either points or a reduced fee or something.
It's not meant to be a benefit to you. It's meant to help the business. If you want the business to pay for something, you play by their rules.
I guess they get out of it... either points or a reduced fee or something.
Posted on 5/25/16 at 2:49 pm to DownSouthDave
I had to do this with Halliburton when I was an engineer there. I always thought it was BS because the way it worked was you had to pay the bill yourself and get reimbursed by the company whenever you turned in your expenses. Now if you were working nonstop for 20+ days in a row and didn't have time to do an expense report (I was responsible for my crew's food and drink and it took a good bit of time to compile a report) then the bill would come out of my pocket until I turned expenses in.
And then if I had any error it would take up to 3 weeks to get approved sometimes. All interest accrued was on the employee. Oh and the card can only be used for job related expenses and you get no points whatsoever.
Good times
And then if I had any error it would take up to 3 weeks to get approved sometimes. All interest accrued was on the employee. Oh and the card can only be used for job related expenses and you get no points whatsoever.
Good times
Posted on 5/25/16 at 2:57 pm to maqueschoux
This is the same type of deal.
It doesn't help accounting, they just get receipts and approve the reimbursement. They don't pay the bill or handle the account.
It's literally like me taking out another card, using my credit, but not receiving anything for it.
I wouldn't have a problem if they took care of the bill and I just turned in receipts. But it's a little bit of bs that I have to take out an additional card in my name to pay their bills.
They said all employees must use them to fulfill contract obligations, which makes me think that Amex gives them a certain dollar amount if they agree to run a certain amount of money through their cards.
It doesn't help accounting, they just get receipts and approve the reimbursement. They don't pay the bill or handle the account.
It's literally like me taking out another card, using my credit, but not receiving anything for it.
I wouldn't have a problem if they took care of the bill and I just turned in receipts. But it's a little bit of bs that I have to take out an additional card in my name to pay their bills.
They said all employees must use them to fulfill contract obligations, which makes me think that Amex gives them a certain dollar amount if they agree to run a certain amount of money through their cards.
Posted on 5/25/16 at 3:30 pm to DownSouthDave
My AMEX doesn't show up on my credit FWIW.
Posted on 5/25/16 at 4:16 pm to DownSouthDave
This doesnt impact you credit score and yes the company gets benefits from Amex.
Eta:what shitty companies are yall working for. This crap is actually being reported on your credit report?
Eta:what shitty companies are yall working for. This crap is actually being reported on your credit report?
This post was edited on 5/25/16 at 4:19 pm
Posted on 5/25/16 at 6:06 pm to dj30
Thats odd I have a citibank card through my employer and it never showed up on my credit report.
Posted on 5/25/16 at 7:18 pm to DownSouthDave
My work CC doesn't show up on my credit report. It's a Citi card though 
Posted on 5/25/16 at 7:20 pm to DownSouthDave
We have a company AmEx and don't get points. I wish we did. I spend about $75,000 a year on this thing.
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